Panic of 1857
In 1857 the economy was in serious debt. The railroads were unable to pay their fees, investors were losing stock and banks had some serious money put into many failing businesses. Though it would've been alright if a hurricane didn’t sink a ship carrying much needed gold and silver to the bank. When word got out many citizens rushed to the backs to get their money but the banks couldn’t since they only had gold and silver. Pretty soon insurance companies started to fail nation wide and banks followed soon afterward. This lead to a three year depression in the US and made many good people lose their jobs.